In general, people are not that great.
Most people are D students.
Most people are D students.
I didn’t realize so many people would really take an 800 credit score over $100,000
- Thread starter Standing on business
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I’m going on 40… give me that 100 k and pay off a few things and I’ll have 85k in my pocket and 800 credit score
it depends on your circumstance.. I have a high fico already, so I’ll take the 100k and leverage it for business loan. If my fico is dogshyt and i have money then I’ll take the 800 fico. If i had no money and a dogshyt fico then I’m taking the 100k (because there’s probably debt or collections that need to be paid off and caused my fico to tank)
There’s nothing wrong with having debt. We gotta start learning how to play the game. It’s like in the nba they give you 5 fouls before you foul out on the 6th. No point in ending the game not using any of your fouls. I hate comparing different groups of ppl but it is what it is. I was at an Indian wedding recently and they all had money. They told me they came here and leveraged credit card and debt. Would get $30k credit limit and use it to help buy a hotel. Then pay that off get more credit and buy another one. Overtime they’re millionaires and have something to pass on to their kids. The reason most ppl are scared of debt is because they do stupid shyt with it, buying a bunch of shyt with no value they don’t need. If I weren’t in he field I was in I’d max out a bunch of cards and throw it all into crypto and just make the monthly payments overtime. The 20% interest ain’t shyt to 4x gains. I gotta maintain a security clearance so I can’t be messing with my credit like that but yeah.
with that said in this scenario you take the $100k because that will allow you to get 800 credit score anyways
Mike Nasty
Veteran
Those are the people who would turn an 800 credit score back to 600 within a month.
UberEatsDriver
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Lolol.
Have a 800 credit score with a 40K income and go into a Maserati dealership and ask them for a Quattroporte
Mike Nasty
Veteran
It's like they don't understand the concept of credit
but is your dad trying to do credit card arbitrage and using the money for his cards to transition into business credit and doing all of that?
it’s more to it than just having a credit score. But I also can’t knock people for not wanting to do all of that.
xiceman191
Superstar
$100K easily:
Pay off my debt which really ain't much
put a good amount of principal into my house
upgrade my car with a decent down payment
save and invest the rest
Pay off my debt which really ain't much
put a good amount of principal into my house
upgrade my car with a decent down payment
save and invest the rest
you definitely can
R.E.N. Spells Ren
Veteran
Nah breh….an extra 100k is farrrrrr more advantageous to you than an extra 70 points on your credit score. You’re overthinking this.
The only people who should even consider forgoing the 100k are those with a solid multimillion dollar plan, an extraordinarily shytty credit score, and some minimum level of capital/access to capital already. A very small subset of the population. The vast majority of us should just take the money.